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Table
5. Comparison of Average Net Advisory Prices and Benchmark Prices for Corn
and Soybeans, 1995 - 2000 Crop Years, Commercial Storage Costs |
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Market |
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Farmer |
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Difference Between Advisors |
Difference Between Advisors |
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Average |
Benchmark |
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Benchmark |
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and Market
Benchmark |
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and Farmer Benchmark |
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Net |
Central Illinois |
Central Illinois |
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USDA Average |
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Central Illinois |
Central Illinois |
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USDA Average |
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Number of |
Advisory |
24-Month |
20-Month |
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Price Received |
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24-Month |
20-Month |
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Price Received |
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Crop Year |
Programs |
Price |
Average |
Average |
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for Illinois |
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Average |
Average |
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for Illinois |
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---$
per bushel (harvest equivalent)--- |
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---¢
per bushel (harvest equivalent)--- |
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Panel A: Corn |
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1995 |
25 |
3.03 |
2.90 |
3.07 |
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3.06 |
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14 |
-4 |
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-3 |
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1996 |
26 |
2.63 |
2.65 |
2.66 |
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2.50 |
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-2 |
-4 |
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12 |
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1997 |
25 |
2.32 |
2.33 |
2.27 |
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2.23 |
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-1 |
5 |
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9 |
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1998 |
23 |
2.17 |
2.24 |
2.12 |
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1.97 |
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-8 |
5 |
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20 |
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1999 |
26 |
2.02 |
2.05 |
1.97 |
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1.93 |
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-3 |
5 |
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9 |
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2000 |
27 |
2.13 |
2.09 |
2.01 |
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1.95 |
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4 |
11 |
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18 |
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1995-2000 Average |
152 |
2.38 |
2.38 |
2.35 |
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2.28 |
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0 |
3 |
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11 |
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Panel B: Soybeans |
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1995 |
25 |
6.59 |
6.26 |
6.39 |
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6.59 |
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33 |
6 |
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1 |
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1996 |
24 |
7.27 |
7.08 |
7.21 |
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7.17 |
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19 |
6 |
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10 |
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1997 |
23 |
6.38 |
6.30 |
6.22 |
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6.17 |
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9 |
16 |
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21 |
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1998 |
22 |
5.82 |
5.86 |
5.64 |
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5.18 |
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-4 |
18 |
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64 |
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1999 |
25 |
5.67 |
5.50 |
5.30 |
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5.39 |
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18 |
37 |
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28 |
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2000 |
26 |
5.45 |
5.42 |
5.38 |
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5.29 |
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2 |
6 |
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15 |
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1995-2000 Average |
145 |
6.19 |
6.07 |
6.02 |
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5.97 |
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13 |
17 |
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22 |
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Notes: Net advisory prices and benchmark prices
are stated on a harvest equivalent basis. A crop year is a two-year marketing
window from September of the year previous to harvest through August of the
year after harvest. Averages for 1995-2000 are computed over the full set of
advisory programs. As a result, averages of individual crop year prices or
differences may not equal the averages reported for 1995-2000. |
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